"europe By Rail: Ensuring A Smooth Journey With The Right Travel Insurance"

 "europe By Rail: Ensuring A Smooth Journey With The Right Travel Insurance" - A freight train connecting China with Europe leaves Jiujiang, east China's Jiangxi province, bound for Moscow on February 23. Photo: cnsphoto

Government officials, rail service providers and international traders are taking emergency measures to ensure the smooth operation and trade flows of the China-Europe Freight Train, a major transportation channel covering countries along the routes of the Belt and Road Initiative (BRI). As the situation has worsened in Europe.

"europe By Rail: Ensuring A Smooth Journey With The Right Travel Insurance"

Industry representatives told Global that while some major logistics companies in Europe and the United States have stopped receiving China-Europe freight train, the channel itself has not stopped working, as the railway between Europe and China passes through Poland, Belarus and Russia. always open. Bar. .

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But with Western sanctions on Russia increasing, especially after Russia's railways were put on the sanctions list, China-based international traders are holding back overseas orders, weighing the potential impact on transcontinental rail transport operations and some are looking for insurance packages. that covers. danger of war

According to the Shanghai Observer, for example, the China-Europe freight train that started in Shanghai initially had four China-Europe freight trains from the city each month, but the schedule changed after some companies started cancel orders. Trains originally scheduled for March 7 were pushed back to Thursday, he said, and customers picked up about 40 containers.

In a recent interview with the Global Times, Feng Zhubin, vice chairman of the China-Europe High-Speed ​​Rail Coordinating Committee, said the situation in Ukraine has caused many exporters, especially "cash" companies, to stop shipping. to Russia, Ukraine and other countries in Europe and Central Asia, and several sellers are canceling scheduled shipments.

A veteran trader based in eastern China's Zhejiang province told the Global Times on Wednesday that "European attackers have started negotiating to avoid the Russian Railway, which is an important freight rail transit China -Europe. Companies are starting to wait". ."

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According to Shanghai Observer, due to geopolitical tensions, market demand for trains in Shanghai has decreased by 40% and the number of trains has halved.

While the conflict in Ukraine has prompted European customers and local Chinese traders to choose cross-border freight trains to avoid risk, current train operations from China to Europe remain safe and smooth, officials say. industry.

“Traders have felt the pressure of possible disruptions, but all rail lines are operating normally, except for rail lines that cross Ukraine, which occupy a small percentage and are currently bypassed,” Tan said.

According to media reports, Shanghai is recently preparing to increase the number of return trains from Germany and elsewhere.

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Industry representatives said that the greatest concern for international customers today is the difficulty of receiving compensation from insurance companies in the event of damage or loss of goods, as well as the risk of not to be able to receive payment for rail transport if Europe is cut off. across Russia. Clearing Channel Under the economic sanctions to protect the commodity, traders are looking for new insurance to cover all possible risks, including the risk of war.

"War risk is a pre-existing condition... Most insurance companies use war risk as additional insurance for all cargo risks," said Tommy Tan, president of Shanghai EPU Supply Chain Management Company, which represents China-EU freight trains. ." World Times. Wednesday

However, insiders say the deteriorating situation in Europe has made it very difficult for traders to obtain war risk insurance due to increased freight risk.

Government authorities and logistics companies are working to keep trains running to ensure train services are not affected by the situation in Europe.

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Han Jie, director of the Zhejiang Commerce Bureau, said during a recent internal meeting with international businessmen on March 10. According to China News, he said the government will ensure the operation of the China-Europe freight train and help manufacturers and traders manage risks. .com reported.

Also at the meeting, the Zhejiang branch of the People's Insurance Group of China (PICC) and YXE Business Services Group, a cross-border freight train operator in Yiwu, agreed to strengthen the development of the global supply chain. According to chinanews.com, PICC will offer innovative insurance products and services that match the business characteristics of railway services.

A dealer of a China-Europe freight train logistics service provider who attended the meeting told the Global Times that they were in talks with local insurance companies on the possibility of taking out new service insurance. fully covered freight trains, including war risk insurance.

This person said: "The negotiations have been going on for a week and they started with the insurance costs and the risks that should be covered by the insurance companies. Although no agreement has been reached yet, we are expect to receive more information this week.” TO DO.

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Additionally, total rail transit time between China and Europe has been reduced to 12 days from 24 days at launch.

A Zhejiang-based businessman said that despite potential obstacles, the rail channel would be more profitable due to its shorter transit time compared to sea transport, less competitive advantage due to lack of containers and narrower gaps due to port logistics bottlenecks. it is always his first choice. . Congestion in many countries around the world

"What takes 14 to 16 days or less by train from Zhejiang to Hamburg in Germany can take up to a month or even longer by boat," the person said. Today's high-speed rail (HSR) lines in Europe look like islands scattered across the continent. But what would a fully connected European broadband network look like? How much does it cost and what benefits will it bring? To answer these questions, the European Rail Joint Undertaking commissioned a study, the results of which were presented this week.

The vision is clear: a high-speed rail network connecting all European capitals and urban centers with more than 250,000 inhabitants. Such a comprehensive network would mean at least tripling the existing high-speed rail network. "Europe already has the high-speed train, but there is no network, there are islands and many cities, mainly in Eastern Europe, do not benefit from the high-speed train", said Carlo Borghini, CEO of the European Rail Joint Venture. And a major search engine.

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Commissioned by Ernst & Young (EY), European Railways, in collaboration with Bocconi University, examined three scenarios for a high-speed rail network in Europe using data provided by CER, ALLRAIL and UNIFE. According to EY, the proposed network would require an investment of around €550 billion, but would bring more positive net benefits to society: €750 billion by 2070.

“We have four major European countries: Germany, France, Spain and Italy,” said Doreen Rookmaker, Member of the European Parliament (EP). Nationally, they have a good high-speed rail network. But now we need connections to connect small countries and Eastern European countries with high-speed rail. As an MEP, Rookmaker supported a fully connected European high-speed rail network funded by revenues from the Emissions Trading System (ETS), an apolitical institution of the European Union.

However, without further investment in high-speed rail, the demand and share of LGV is expected to grow slowly with official EU targets for 2030. Twice as many high-speed railways and three times as many by 2050, according to the report, will not be achieved.

The map above shows the different versions of the high-speed network. The image on the left shows the slider of the current LGV lines in gray and shows the planned core network of the Trans-European Transport Network (TEN-T), which should be completed by 2030. The right side shows the interconnected LGV network planned for connecting all of Europe, already planned high-speed rail lines that will be completed after 2030. In brown, and the additional high-speed lines needed in the study to fill the gaps and create a full pan-European connection to all major cities of the EU in blue. .

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The blue dotted lines show the expansion of the fast lines to EU member states that are currently candidates for union. These include Ukraine, Moldova and the Western Balkans such as Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro and Serbia, as well as Turkey. In this scenario, a total of 4,300 km of track would have to be built and an additional 40 million would be connected to the European HSL network.

Under 2050 scenarios, all new lines will be built only as special high-speed lines with speeds of up to 250 km/h with associated construction costs, although some lines may also be planned as upgrades to existing lines . Estimated costs used - 16.5 million. euros per kilometer

The main methodological element of research market assessment is the demand/shock model. It estimates the demand for high-speed rail and competitive modes each year up to 2070, taking into account population growth, GDP and past demand trends. Then 10 "shocks" are applied at different forecast dates. These shocks simulate possible and measurable future changes that could affect transport demand.

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Transport In The European Union

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